This article considers the European Union (EU)’s proposed amendments to
Article 10(1) (the fair and equitable treatment (fet) standard) of the Energy
Charter Treaty (ECT), put forward in the context of the on- going
‘modernisation’ process of that treaty. The amendments proposed by the EU
(which have now been agreed upon in principle by the Contracting Parties to the
ECT) seek to narrow the current open-ended definition of the FET standard, and
therefore may be seen to limit investor protection. This, in turn, may
undermine the confidence of investors looking to invest in the EU at a time
when billions of Euros in investment is required to power the green transition
and meet the EU’s climate change objectives. This article considers whether the
EU’s proposal to amend Article 10(1) of the ECT may be considered to advance or
undermine those objectives.